Sustainable finance

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Types of debt securities

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Incremental debt flexibility or accordion features

What are incremental facilities?An incremental facility is feature included in a credit agreement where, subject to meeting certain pre-agreed...

Fixed and floating charges

There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...

ISDA definitions

The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...

Practice notes

Direct agreements in project finance transactions

What is a direct agreement?Direct agreements are very common in project finance transactions. A direct agreement is an agreement which gives the...

9th Nov

Practice notes

Drafting and negotiating the facility agreement

This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...

9th Nov

Practice notes

Events of default

This Practice Note considers:•the purpose of events of default included in facility agreements•common events of default relating to borrowers and...

9th Nov

COVID-19

In-house

Practice notes

Introduction to fund finance—capital call facilities

What is a 'capital call facility'?A capital call facility is a form of finance provided by a lender to a fund and typically secured against investors’...

Produced in partnership with Peter Olds of Cleary, Gottlieb, Steen & Hamilton 9th Nov

Practice notes

The facility agent

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

9th Nov

Practice notes

On demand guarantees and bonds

Coronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules. For...

9th Nov

Practice notes

Increased costs

This Practice Note considers the costs that a lender operating in the interbank market will incur when providing funding to a borrower and the steps...

9th Nov

Practice notes

Transferring a loan by sub-participation

Sub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an overview of the reasons why a lender might...

9th Nov

Practice notes

Transferring a loan by novation

Novation is a means by which a lender can transfer its interest in a loan to another lender.This Practice Note looks at what is meant by novation...

9th Nov

In-house

Practice notes

Bridge to bond facilities

What are they?A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing...

Produced in partnership with Cleary Gottlieb and Ian Chin of Morrison & Foerster 9th Nov

Practice notes

Debt securities—10b-5 letters

A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...

Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 9th Nov

Practice notes

Instructing and managing local counsel

Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...

9th Nov

Practice notes

Market disruption clauses in facility agreements

In summary, a market disruption clause sets out how interest is calculated for a loan if a lender’s cost of funding the loan is in excess of London...

9th Nov

Practice notes

Secondary debt trading—completing the trade confirmation

The majority of secondary debt trades are conducted by telephone or by email. Following the trade call or email exchange, the parties will document...

9th Nov

Practice notes

Commodity repo transactions and true sale considerations

Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...

Produced in partnership with Sullivan 9th Nov

Practice notes

Taking security over uncertificated shares held in CREST

Shares are commonly offered as security for a loan in commercial lending transactions.Practice Note: Taking security over shares explains how to take...

9th Nov

Most recent Sustainable finance content

Practice notes

Sustainable finance—recent news

2020 NewsDateNews story24 November 2020 Asset Management Taskforce makes stewardship recommendations to boost sustainable growth—LNB News 24/11/2020...

25th Nov

Practice notes

Voluntary environmental, social and corporate governance (ESG) reporting

Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Produced in partnership with CLT Envirolaw 25th Nov

Practice notes

Green loans

What are green loans?This Practice Note considers the green loan market, focusing on the Green Loan Principles (GLP), published by the Loan Market...

Produced in partnership with Kathryn Emmett of Norton Rose Fulbright, Katie Knight of Norton Rose Fulbright and Rosa Mottershead 25th Nov

Practice notes

Green bonds

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Produced in partnership with Jacqueline Heng of Norton Rose Fulbright 25th Nov

Practice notes

Global and EU sustainable finance initiatives

In response to the Paris Agreement, governments and intra-governmental organisations launched a number of measures to promote sustainable finance. To...

Produced in partnership with Kathryn Emmett, Rosa Mottershead, Rob Marsh, Andrew Hedges, Imogen Garner and Cara Dowling of Norton Rose Fulbright 25th Nov

Practice notes

Sustainable securitisations

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Produced in partnership with Mindy Hauman of White & Case, Chris McGarry of White & Case and Debashis Dey of White & Case 25th Nov

Practice notes

The Capital Markets Union

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

25th Nov

Practice notes

The Capital Markets Union—recent news

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

25th Nov

Practice notes

The Equator Principles

The Equator Principles (EPs) are a risk management framework for determining, assessing and managing environmental and social risk in project...

25th Nov

Practice notes

Banking and finance—environmental risk

Lenders' risk exposureLenders are increasingly concerned with environmental risk in their day to day secured lending businesses. All major UK banks...

Produced in partnership with Groundsure 18th Nov

Practice notes

Land contamination—issues in banking and finance transactions

Land contamination liabilitiesThe main types of liabilities associated with land contamination and water pollution are summarised in Table A.Table...

Produced in partnership with ELM Law 18th Nov

Practice notes

Banking and finance—environmental due diligence and practical ways for lenders to mitigate environmental risks

Why are lenders concerned about environmental risk?The ever growing number of environmental laws has affected the way that lenders perceive...

18th Nov

Practice notes

Voluntary environmental reporting

Key drivers for voluntary environmental reportingA company may choose to report on environmental matters:•to gain a better understanding of its...

Produced in partnership with CLT Envirolaw 18th Nov

Practice notes

Mandatory environmental reporting

Companies operating in the UK may be required to report on environmental matters in accordance with:•the Companies Act 2006 (CA 2006)•accounting...

Produced in partnership with Ardea International 18th Nov

Practice notes

Project financing and refinancing renewables projects supported by the Renewables Obligation (RO) scheme: key Facility Agreement provisions specific to this type of project

IntroductionThis Practice Note will look at the issues to take into consideration when financing renewable energy projects in the UK, particularly...

Produced in partnership with Caroline Saul of Osborne Clarke 18th Nov

Practice notes

Sustainability-linked bonds

In September 2019, ENEL launched the world’s first sustainability-linked bond (SLB) (see: ‘ENEL sustainability-linked bond case study’ in The future...

Produced in partnership with Jacqueline Heng of Norton Rose Fulbright 17th Nov

Practice notes

Sustainability-linked loans

Following the first Green Loan Principles and in light of the increasing popularity and borrower diversity in the green loan market, the first ever...

Produced in partnership with Alec Buchanan of White & Case and Mindy Hauman of White & Case 17th Nov

Practice notes

Sustainable Finance—2016–2018 news [Archived]

2018 NewsDateNews story4 January 2019Commission publishes draft rules requiring investment firms and insurance distributors to consider sustainability...

13th Nov

Practice notes

Getting the Deal Through: ESG and Impact Investing 2021

Jurisdictions coveredThe following jurisdictions are covered in this report:Argentina; Australia; Chile; Finland; Hong Kong; Italy; Kenya; Mauritius;...

10th Nov